Caravan Finance Australia

Caravan Finance Resource

Caravan Finance Australia :: News

Share this news item!

Suncorp's Strategic Pivot: Into Insurer-Only Focus

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Suncorp is preparing for a major strategic shift following the approval of its banking business sale to ANZ by Federal Treasurer Jim Chalmers.

This $4.9 billion deal marks Suncorp’s exit from banking and enables it to concentrate solely on its insurance pursuits.

Suncorp and ANZ target the end of July to finalize the transaction, which has been in progress since July 2022. Federal clearance, including the Treasurer's approval, competition clearance, and Queensland legislative tweaks, were essential to move this deal forward.

Today’s announcement by Dr. Chalmers comes after the Australian Competition Tribunal greenlit the acquisition in February, and following the passage of a vital legislative amendment in Queensland earlier in June.

Dr. Chalmers highlights the rigorous, lengthy process encompassing “careful consideration, much deliberation and consultation.” He noted that he accounted for concerns initially flagged by the Australian Competition and Consumer Commission, which had attempted to block the deal last August before Suncorp and ANZ appealed successfully to the Tribunal.

An important point, according to Dr. Chalmers, is the distinctive nature of the deal. “Suncorp is uniquely positioned as one of the few remaining combined bank and insurance companies in Australia,” he stated. “This transaction allows Suncorp to concentrate on the challenges inherent in the insurance sector, like accessibility and affordability at a critical time.”

Steve Johnston, Suncorp Group CEO, celebrated the Treasurer’s decision as a milestone towards Suncorp’s reimagined identity as a trans-Tasman insurer. “Post-completion, Suncorp will emphasize addressing emerging insurance needs and overcoming complex issues such as climate change and affordability," Mr. Johnston remarked.

Additionally, Johnston underscored the broader economic implications of the sale. “This decision moves us closer to fulfilling the jobs and investment package that Suncorp committed to with the Queensland government as part of this sale, benefiting Queensland, Australia, and New Zealand as a whole.”

With the restrictive conditions accompanying the approval, Suncorp agreed to forgo a $10 million annual brand licence fee that ANZ was set to pay for five years.

Dr. Chalmers emphasized that the deal is subject to strict conditions to serve the nation’s interest. There will be no changes to the number of Suncorp bank branches in Queensland for three years, and no net job losses as a result of the transaction across Australia at Suncorp and ANZ for the same period.

“The legally binding conditions ensure that Australians maintain access to essential banking services, employees are protected, and the socio-economic benefits are maximized across Queensland and Australia,” concluded Dr. Chalmers.

Published:Saturday, 29th Jun 2024
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Finance News

Introducing the Kia Tasman: Kia's Entry into the Australian Ute Segment

13 Feb 2026: Paige Estritori

The Australian ute market is poised to welcome a new entrant with the upcoming launch of the Kia Tasman. Scheduled to arrive in mid-2025, the Tasman marks Kia's inaugural foray into the competitive utility vehicle segment, traditionally dominated by models like the Ford Ranger, Toyota HiLux, and Isuzu D-Max. - read more

Lightspeed Motor Company: Bringing Car Manufacturing Back to Australia

13 Feb 2026: Paige Estritori

In a bold move to revitalise Australia's automotive manufacturing sector, Melbourne-based Lightspeed Motor Company has announced plans to locally produce the Ariel Atom sports car and the Ariel Nomad off-roader. This initiative aims to address lengthy wait times and high costs associated with importing these vehicles from the UK. - read more

Volkswagen and Jayco Unveil the Crafter Kampervan: A New Era for Australian Motorhomes

13 Feb 2026: Paige Estritori

Volkswagen Australia has joined forces with renowned caravan specialist Jayco to introduce the Crafter Kampervan, a fully-equipped motorhome tailored for the Australian market. This collaboration combines Volkswagen's automotive expertise with Jayco's experience in recreational vehicles, resulting in a product designed to meet the needs of Australian travellers. - read more

Record-Breaking Occupancy Rates for Australian Caravan Holiday Parks

05 Feb 2026: Paige Estritori

Australian caravan holiday parks have reported record-high occupancy rates in December 2025, underscoring the growing appeal of caravanning among Australians. This surge is attributed to successful promotional campaigns and an increasing desire for domestic travel experiences. - read more

Crusader Caravans Teams Up with BIG4 Holiday Parks to Elevate Your Caravanning Journey

28 Jan 2026: Paige Estritori

In an exciting development for Australian caravan enthusiasts, Crusader Caravans has announced a strategic partnership with BIG4 Holiday Parks. This collaboration aims to provide new caravan owners with a suite of exclusive benefits, enriching their travel experiences across the country. - read more

Click for more Finance News

Caravan Loans Articles

The Essential Checklist for Choosing a Caravan That Suits Your Lifestyle

In recent years, the call of the open road has been answered by more and more Australians through the timeless tradition of caravanning. Sparked by the pursuit of freedom and the comfort of having a home on wheels, the caravan lifestyle has seen a resurgence in popularity. This phenomenon isn't just about being on holiday; it's about the independence and flexibility that comes with owning a caravan. - read more

How to Get the Best Deal on Caravan Finance – Insider Tips and Tricks

Embarking on the search for the ideal caravan finance deal can be as exciting as it is daunting. For many Australians, a caravan represents not just a significant financial investment but also the key to unlocking endless adventures on the open road. However, securing the right finance package is crucial to turning those dreams into reality without overburdening one's financial future. - read more

A Comprehensive Guide to Caravan Loans and Finance in Australia

A caravan loan is a secured loan that uses the caravan as collateral. The loan is available for both new and used caravans and can be used for a variety of purposes including holidays, weekend getaways, and even permanent living. If you’re thinking of taking out a caravan loan, read on for a comprehensive guide to caravan loans and finance in Australia. - read more

Looking to Buy a Caravan in Australia? 5 Steps to get you on your way.

Caravanning has been an enjoyable and cost-effective way for Australians to experience the country since the 1950s. It's a great option for anyone who wants to explore all that this beautiful continent has to offer without breaking the bank on accommodation. Offering freedom, independence, and access to a vast array of activities, caravanning brings a unique and memorable experience that can't be beaten. - read more

How to Create a Caravan Travel Budget That Works for You

Caravan travel is becoming increasingly popular among Australians, offering a sense of freedom and adventure that traditional travel methods often cannot match. The allure of waking up to breathtaking views and exploring the country's vast and diverse landscapes makes it an ideal choice for those seeking both spontaneity and comfort. - read more

Start Here

Get a free caravan finance eligibility assessment and compare options tailored specifically to your circumstances.

Knowledgebase

Fixed Income:
A type of investment that pays regular interest or dividends, such as bonds or preferred stocks.

This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised credit representative of Saccasan Pty Ltd, Australian Credit License 386297. Visit the ASIC website for additional licensing information.

IMPORTANT: We are neither authorised nor licensed to provide finance or financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party intermediaries, insurers and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for vaidating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.